Small Cap Feast

Small Cap Feast – 08 January 2020

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Dish of the Day:

No Joiners Today

 

Off the Menu:

Avesoro Resources and Brady have both left AIM after being acquired.

 

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Main Market (Premium)


The Global Sustainable Farmland Income Trust
will invest in a diversified portfolio of operational farmland assets located in major agricultural markets including the United States, Europe, New Zealand, Australia and certain countries within Latin and South America. Raising up to $300m.   Due 28 February

Rumours and Speculation

Investment firm Nippon Active Value Fund is seeking to raise up to £200m at an issue price of 100p per share via an IPO.   The company aims to invest in a portfolio of quoted Japanese stocks with market capitalisations of up to $1bn.   First day of dealings expected early February.

 

Breakfast Buffet

HML Holdings (HMLH.L) 34.5p £15.1m

 The provider of property management, insurance and ancillary services to residential property blocks, has acquired Leasehold Management Limited (“LML”) for a consideration of £438,000 plus an additional payment for the surplus working capital . 

Highlights:

  • LML specialises in leasehold management and is based in Worthing
  •   LML will be integrated into HML over the coming months with employees remaining with the business, save for LML founder Peter Ballam who will be retiring.

. LML manages 1,222 units in 81 blocks.

 

Ebiquity (EBQ.L) 38p £30.4m

The  independent marketing and media consultancy, today announces the acquisition of Digital Decisions, a digital media monitoring and optimisation service, for an initial consideration of EUR0.7 million. The acquisition is highly complementary to Ebiquity’s Media division and will enhance the services that it offers to its global client base.

Digital Decisions’ solutions have been adopted by a number of global brands including Heineken and PepsiCo. Joseph Hernandez, Senior Director Media and Connections Planning at PepsiCo said “Digital Decisions and Ebiquity are a perfect match, future-proofing ad spend efficiency drivers in a digital age”.

 For the 18-month period to 31 December 2018 (its first financial period), Digital Decisions reported revenue of EUR419,000, profit before tax of EUR118,000 and as at 31 December 2018 had gross assets of EUR151,000.

 

Mpac Group (MPAC.L) 228.5p £46m

The “global leader in ‘Make, Pack, Monitor and Service’ high speed packaging and automation solutions, provides a pre-close trading update (unaudited) for the year ended 31 December 2019.

On 5 September 2019, the Group reported that its profits for FY19 were expected to be significantly above the Board’s and market expectations, with the momentum gained earlier in the year continuing throughout the second half of the year.  The Board is delighted to announce that since that date, momentum in the business has continued to accelerate and we expect to report a full year trading performance ahead of these upgraded expectations. This is primarily as the result of a strong Q4 order intake and accelerated project execution.   

Alongside this, continued progress has been made in realising the financial benefits of the strategic plans of delivering on the ‘One Mpac’ business model. The Group remains focused on the continued successful execution of its long-term strategy of developing our Services business, sustaining the Original Equipment order intake growth and converting operational efficiencies into improved financial performance and cash generation.”

 

Intelligent Ultrasound Group (MED.L) 11p £24.2m

Group revenue for the year to 31 December 2019, which is currently generated entirely by the Group’s Simulation Division, is expected to grow by around 10% from the £5.3m achieved in 2018 to between £5.7m and £5.9m. The Group is pleased that the Division continued to show year on year growth and the important agreement signed with FUJIFILM SonoSite Inc. in H2, will help increase future sales in the Division’s point-of-care ultrasound (POCUS) training market.

The Group’s pre-revenue Clinical AI Division had a very successful year, meeting all its commercial and development milestones. By signing its first long-term licence and co-development agreement in July 2019 with one of the world’s leading ultrasound equipment manufacturers for its AI-based real-time ultrasound imaging software, the Group made a significant advance in validating its commercial model.

The EBITDA loss for the year is expected to be between £3.3m and £3.4m (2018: loss, £2.7m). This includes c. £2.0m (2018: £1.3m) of primarily R&D costs attributable to investment in the Group’s Clinical AI Division.

 

Shield Therapeutics (STX.L) 179p £210m

Exclusive licence agreement with Beijing Aosaikang Pharmaceutical Co. Ltd for the development and commercialisation of Feraccru®/Accrufer® in China

Deal Highlights:

  • US$11.4 million upfront licence payment to Shield
  • Up to US$51.4 million in development and sales milestones
  • Ongoing tiered double-digit royalties on net sales payable to Shield
  • ASK Pharm to be responsible for, and cover costs of, all development and regulatory activity

 

Sirius Minerals (SXX.L) 5.5p £385m

Sirius is in advanced discussions with Anglo American Plc (“Anglo American”) regarding a possible all cash offer of 5.50 pence per Sirius share for the entire issued, and to be issued, share capital of Sirius .

The Proposal represents a premium of:

–    34.1% to the closing price of 4.10 pence per Sirius share on 7 January 2020, being the last business day prior to the date of this announcement;

 

Good Energy (GOOD.L) 213p £35.4m

“Good Energy Group PLC, the 100% renewable electricity supplier and innovative energy services provider, is pleased to announce the appointment of Rupert Sanderson as Chief Financial Officer (CFO) and Executive Director to the Board of the Company with effect from 8 January 2020.

 

Rupert joined Good Energy in February 2017 and was appointed Finance Director in January 2018 and is responsible for finance, trading, legal and investor relations. His previous roles include senior financial and commercial positions at Centrica, British Gas, Serco and Avis Europe. Rupert began his career as an accountant for PwC and is a Fellow of the Institute of Chartered Accountants in England and Wales.”

 

AdEPT Tech (ADT.L) 332p £78.7m

 “In 2018 AdEPT announced a significant government contract win with the NHS.  However, winning a contract is only half the battle – it is crucial to deliver on the promise made in this substantial contract process.

AdEPT is therefore delighted to announce that, under the guidance of the NHS Trusts in Kent, AdEPT has delivered improved network and bandwidth capacity to more than 100 hospital and specialist care sites across the region. 

This project facilitates greater collaboration in handling the health and welfare needs of Kent residents. 

Following the success of this initial network programme, AdEPT are completing the roll-out of improved bandwidth services to the 300 GP surgeries in the region.  This will complete the upgrade of the entire NHS network in Kent.”

 

Rosslyn Data Tech (RDT.L) 4.7p £9.1m

 The global big data technology company, announces that it has won two large contracts with a minimum combined contract value of £0.9 million over their minimum term. The contracts are for delivery of Knowledge Capture part of Rosslyn’s Information Management suite of products.

 

Alpha FX (AFX.L) 1245p £462m

The  foreign exchange and payments specialist working for corporates and institutions internationally, today announces a trading update for the year ended 31 December 2019.

Following the last trading update on 17 October 2019, trading has continued to be strong, with revenues for the FY expected to exceed £35m and pre-tax profit margin also slightly ahead of expectations despite continued investments made throughout the year.

 

Head Chef:

Derren Nathan
0203 764 2344
derren.nathan@hybridan.com

*A corporate client of Hybridan LLP

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